Buyer Contingencies. The obligations of Buyer under this Agreement are contingent upon each of the following:
Buyer Contingencies. This Agreement shall be completely contingent upon Buyer's satisfaction of or Buyer's waiver (at Buyer’s sole discretion) of the contingencies set forth below in this Section 3.02 (the "Buyer Contingencies"), by 5:00 P.M. on April 3, 2020 (the "Buyer Contingency Period"). The date upon which all Buyer Contingencies are either satisfied or waived, pursuant to Section 3.03 or otherwise, shall be referred to as the "Buyer Contingency Date". The Buyer Contingencies are as follows:
Buyer Contingencies. Unless waived by Buyer in writing, Buyer’s obligation to purchase the Real Property shall be subject to and contingent upon each of the following:
Buyer Contingencies. This Offer is contingent upon the following items (collectively “Buyer Contingencies”): □ Financing Contingency of Buyer being able to obtain: □ first mortgage loan commitment □ construction loan commitment within days of the Effective Date (“Financing Deadline”) for a combined amount not less than $ for a term of not less than years with an initial interest rate not to exceed % per annum with monthly payment not to exceed $ for principal and interest. □ Other Contingency: Buyer agrees to pay all customary financing costs (including closing costs), to apply for financing promptly and to provide evidence of application promptly upon City’s request. If, despite Buyer good faith efforts, Xxxxx is not able to obtain financing on the above terms (or other terms reasonably acceptable to Buyer), Buyer shall promptly, and on or before the expiration of the Base Period or Renewal Period, whichever is applicable, deliver written notice to City of same including copies of lender(s) rejection letters or other evidence of unavailability. If Buyer’s notice is timely given, this Offer shall be null and void, but City shall retain the Xxxxxxx Money and any Extension Fee.
Buyer Contingencies. In addition to the Due Diligence contingency above, Buyer shall have the following contingencies:
Buyer Contingencies. This Offer is contingent upon the following items (collectively “Buyer Contingencies”): □ Financing Contingency: This Offer is contingent upon Xxxxx being able to obtain: □ first mortgage loan commitment □ rehabilitation/construction loan commitment within days of the Effective Date (“Financing Deadline”) for a combined amount not less than $ for a term of not less than years with an initial interest rate not to exceed % per annum with monthly payment not to exceed $ for principal and interest. Xxxxx agrees to pay all customary financing costs (including closing costs), to apply for financing promptly and to provide evidence of application promptly upon Seller request. If, despite Buyer good faith efforts, Xxxxx is not able to obtain financing on the above terms (or other terms reasonably acceptable to Buyer), Buyer shall promptly, and on or before the Financing Deadline, deliver written notice to Seller of same including copies of lender(s) rejection letters or other evidence of unavailability. If Buyer’s notice is timely given, this Offer shall be null and void, but Seller shall retain the Xxxxxxx Money and any Extension Fee. □ Inspection Contingency. This Offer is contingent upon Xxxxx conducting at Buyer’s sole expense an inspection and/or testing or sampling for , which work must be conducted by an individual or entity approved by Seller in writing and must be in strict conformance with a Scope of Work approved by Seller in writing prior to entry. Buyer shall indemnify and hold harmless Seller concerning any lien rights associated with Xxxxx’s entry rights and with costs associated with Buyer’s entry. At or before Closing, Buyer will sign an affidavit regarding lien rights consistent with this paragraph indicating `Buyer has fully paid for the inspection, testing or sampling and will produce a lien waiver from the person or entity conducting the inspection, testing or sampling. Buyer must, at Buyer’s expense, repair any damage caused by or attributable to the entry, investigation, testing or sampling. Xxxxx is solely responsible for, and shall indemnify and hold harmless Seller against, any loss, cost, damage, or injury to person or property, concerning Xxxxx’s (or anyone claiming by, through, or under Buyer) entry onto the Property. Such entry is at Buyer’s sole risk. Prior to entry, Buyer shall provide to Seller evidence of insurance maintained by Buyer or its representative meeting Seller’s approval. This contingency shall be deemed satisfied unles...
Buyer Contingencies. In addition to Buyer’s right to terminate this Agreement pursuant to Section 8, Buyer’s obligations under this Agreement are contingent on Buyer satisfying itself as to the following matters by the dates or within the time periods set forth in each subsection below. Failure of Buyer to give written notice of exercise of the contingency as of such date constitutes waiver of such contingency. If Buyer gives notice of the exercise of such contingency, then the Parties will proceed pursuant to Section 10:
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Buyer Contingencies. (a) Notwithstanding any provision of this Agreement to the contrary, the Buyer's obligation to Purchase the Premises hereunder is conditioned upon the Buyer obtaining Final approval (which approval shall become "Final" only upon the expiration of the applicable appeal periods without any appeal having been filed or served) reasonably satisfactory to the Buyer of federal, state and local land use regulatory authorities, including without limitation, the Traffic Commission of the State of Connecticut, the United States Corps of Engineers, and the Town of Seymour Planning and Zoning and Inland Wetlands Commissions necessary for the development on the Premises for Phase I, that being the first 103 units, of a 183 unit residential active adult housing project including a clubhouse and amenities (hereinafter referred to as the "Project") on or before June 30, 1999. (It is understood that (i) the Buyer plans additional development on the Premises, known as Phase II, which additional development is contemplated to consist of an 80 unit residential active adult housing project, the owners of which units will have access to the clubhouse and amenities included in Phase I, (ii) Phase II is not included in the definition of "Project" for the purposes hereof, (iii) that the real property upon which Phase II will be located will be subject to the First Mortgage in favor of the Seller contemplated in Paragraph 1(d) hereof, and (iv) the approximate boundaries of Phase II will be as set forth on the map entitled "The Preserve, Xxxxxxxx Road, Seymour, Connecticut" by Xxxxxxx X. Xxxxxx, Land Surveyors and Planners, which map was submitted to the Seymour Planning and Zoning Commission in connection with the Buyer's application for conceptual approval of the development of the Premises and is attached hereto as Schedule F.) Buyer agrees to submit in good faith applications for all such approvals of the Project on or before March 15, 1999 and to pursue such applications diligently. Buyer shall submit to the Seller, on or before March 15, 1999, a certificate executed by a Member duly authorized, to the effect that Buyer has applied in good faith for all approvals necessary to satisfy the above condition to its purchase of the Premises. Seller agrees to provide reasonable cooperation to the Buyer in connection with the Buyer's applications. If the Buyer fails to submit all such applications in good faith by March 15, 1999 or fails to submit the above certificate to the Seller, th...
